MANAMA: AlBaraka Banking Group B.S.C. started (Thursday 18 April 2019) distributing US$37.2 million as cash dividends to shareholders for the results of the financial year 2018 as approved by the Assembly General meeting (AGM).
The shareholders will be receiving total cash dividends amounting to US$37.2 million equal to 3 Cent per share equal to 3% of the issued capital. Entitled shareholders are according to the shareholding register by end of AGM date 20 March 2019.
The applicable Zakah related to cash dividend is (US$ 0.773 for every 1,000 shares) which shareholders has to pay their applicable zakah by their own, while the Bank will pay the remaining part of Zakah as approved by the AGM.
More details on Zakah is available in the report of Shari’a Supervisory Board within the Annual Report which is available online www.albaraka.com
